Profits at China’s industrial firms suffered their worst contraction since late 2011 in the first two months of this year, data showed on Wednesday, as increasing strains on the economy in the face of slowing demand at home and abroad took a toll on businesses. The sharp decline in profits suggests further trouble for the world’s second largest economy, which expanded at its slowest pace in almost three decades last year. The government has already lowered the economic growth target this year to 6.0-6.5 percent, from 6.6 percent in 2018. Profits notched up by China’s industrial firms in January-February slumped 14.0 ... (full story)